The Ministry of Housing, Utilities, and Urban Communities announced offering two land plots in the Green Belt area on the 6th of October City, for EGP 2,285 per sqm, Invest-Gate reports.

The first plot is located in Basin 2 and covers 176,400 sqm (42 acres). The second plot is in Basin 3 and covers 171,360 sqm (40.8 acres).

The ministry’s conditions for the plots:

• The structural ratio cannot exceed 15% of the total plot area. The building percentage within residential plots cannot exceed 40% for detached villas and 45% for other residential models. Parking must comply with Egyptian codes.
• The project implementation period is four years from the issuance of the ministerial decision.
• Payment is 25% in USD upon application. The rest is paid in eight semi-annual installments in USD, with financial charges as per the Central Bank interest rate.
• Areas subject to increase or decrease and this will be determined by the city authority’s survey department. Services for residents are limited to 5% to 12% of the total plot area.